Why ConneCting to the internet of things should top your projeCt list

your things have a story to tell are you listening?

the internet of things (iot) is made up of billions of smart deviCes, inCluding smart phones, sensors, and rfid tags, all using Wireless teChnology to CommuniCate With us and With eaCh other Currently, there are around 15 billion devices in the IoT, with 5.5 million new ones connecting each day.1 And the insights gleaned from the data provided by all those connections is rapidly reshaping the world we live in.

From advanced inventory tracking to omnichannel marketing, the IoT is empowering new capabilities and opening up new possibilities.

iot retail

here are the top reasons an iot-based retail solution should be a top priority for your business

iot retail

Realize new value from legacy assets and infrastructure. Even if your store assets and inventory systems weren’t originally designed to connect to the Internet and share data, they still can. By attaching intelligent gateways to existing assets, you can collect data from these previously untapped resources. In other words, your systems didn’t use to talk, but now they can.

Increase efficiency. Does your point-of-sale (POS) system talk to your digital signs? Do your online and in-store inventory systems have a working relationship? They could. And should. The IoT can bring systems together and give them a common framework, where all devices and endpoints can talk. So you can help customers find what they want and make sure they get it—sooner, rather than later.

Make smarter decisions more quickly. Smart retailers are creating new value from the data they have now—think transaction logs, customer information, and product details—and adding data from new sources, like e-commerce, social media, geolocation, and in-store sensors. It’s all about using data to better understand consumer behavior and drive better current and future business decisions.

Achieve near-100-percent inventory accuracy. Seriously. You can achieve near-100-percent inventory accuracy, whether you’re selling parkas or produce. Intel and Levi’s are piloting an analytics solution that tracks where items are in the store, informs staff what products need to be replenished, and recommends additional items to customers based on what they’ve brought into the dressing room. Because having the right product in the right place and for the right consumer means far fewer lost transactions.

Save money. You can lower energy usage by powering down lighting, POS, and HVAC systems. Reduce POS repair costs and downtime. Make better use of your sales associates. Decrease inventory waste. The IoT can help you do all that, and more. You’ll have the hard data, insight, and control you need to lower costs, realize new efficiencies, and respond more quickly to both issues and opportunities.

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Shape the customer shopping experience. Empower customers to use their mobile devices to check inventory and find products inside your stores, quickly and easily; receive personalized digital coupons upon entering the store; and call up product information and reviews. Retailers can track customer paths through the store to help improve shelf layout and product placement. And create personalized, real-time interactions with customers, whether they’re inside or outside your stores.

Market smarter by getting personal. With e-commerce, mobile communications, social networks, and digital signage, you can deliver consistent, dynamic, personalized omnichannel experiences that make an impact. Imagine Mr. X walking into your store and being greeted by a kiosk: “Hello Mr. X, it’s great to see you again. It’s been 30 days since you’ve visited, and here are some of our newest offerings. The blue sweater you might be interested is on aisle 10.” Plus, with measurement and analytics tools, you’ll know if your content is capturing the right audience at the right time.

Convert more customers. You probably use sales reports to make decisions about what to stock, display, and promote. Let’s take it up a couple notches. The latest generation of solutions in predictive analytics—like those powered by Intel and Cloudera—can evaluate customers’ past buying habits to help predict future spending, forecast product demand, and identify households that are most likely to purchase a product within a certain period of time. With that level of insight, your sales associates will have the right tools to deliver superior customer service and close more sales.

Intel is helping IoT innovations get to market faster, reducing solution complexity, and defining how to derive actionable intelligence more quickly and securely.

The Intel® IoT Platform breaks down the barriers to IoT adoption, by offering a proven, industry standard foundation for how devices will securely connect and deliver trusted data to the cloud. It includes reference architectures and a portfolio of products from Intel and our ecosystem that fit into an end-to-end IoT solution.

The Intel® Retail Sensor Platform is a simple, affordable way for retailers to gather actionable, near-real-time inventory intelligence—saving money and converting more sales. It tracks items through RFID tags, preserving customer privacy, while keeping sales staff informed on inventory, stocking, customer traffic, and local demand.

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iot retail

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1 Gartner Says 6.4 Billion Connected “Things” Will Be in Use in 2016. Gartner (November 2015).